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Report No. 12

175. Case where part of trust income is chargeable.-

Where part only of the income of a trust is chargeable under this Act, that proportion only of the income receivable by a beneficiary from the trust which the part so chargeable bears to the whole income of the trust shall be deemed to have been derived from that part.

[Section 41(1), 1st proviso]

Income-Tax Act, 1922 Back

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